Insurance Companies Act

Version of section 12 from 2003-01-01 to 2007-04-19:

Marginal note:Class of insurance
  •  (1) A class of insurance is a class set out in the schedule.

  • Marginal note:Reference to particular class

    (2) A reference in this Act to a particular class of insurance is a reference to the insurance of risks falling within that particular class determined in accordance with subsections (3) to (6) and the schedule.

  • Marginal note:Property

    (3) A class of insurance that includes insurance against the loss of, or damage to, property includes insurance against loss of use, occupancy, rents and profits resulting from that loss or damage.

  • Marginal note:Personal injuries and death

    (4) Unless specifically mentioned in the schedule, no class of insurance includes insurance against liability arising out of bodily injury to, or the death of, a natural person or the loss of, or damage to, property.

  • Marginal note:Idem

    (5) A class of insurance that includes insurance against liability arising out of bodily injury to, or the death of, a natural person or the loss of, or damage to, property includes insurance against loss, damage or expenses incident to a claim giving rise to that liability.

  • Marginal note:Life annuities

    (6) The class of life insurance includes the issuance of any annuity where the liability thereon is contingent on the death of a person.

  • Marginal note:Amendment

    (7) The Governor in Council may, by order, amend subsections (3) to (5) and the schedule.